WeLab launches Bank Saqu as its second digital bank in Asia

Bank Saqu Launches in Indonesia:
- WeLab and Astra Financial introduce Bank Saqu, a new digital banking service in Indonesia.
Record-Breaking Development:
- Bank Saqu was built in six months, a notably shorter timeframe compared to competitors (18-24 months). WeLab credits this to their experience in creating Hong Kong’s first licensed digital bank.
Target Audience:
- Focus on younger generations and solopreneurs in Indonesia, including small business owners, freelancers, and full-time employees with side hustles.
Key Features:
- Create up to 20 “pockets” for managing income, expenses, spending, savings, and financial goals.
- Community-linked savings product with higher interest rates as more people join.
- Round up purchases to save more and earn interest.
- Rewards program and financial education tools, all accessible through a single app.
Unique Advantages:
- Bank Saqu leverages local market insights, Astra’s extensive ecosystem coverage (offline and online), and WeLab’s technological expertise. This positions it with unique advantages in Indonesia’s digital financial services landscape.